30 Apr How To Get The Right Price For Your Junk Car?
It is easy to get confused when getting quotes from prospective buyers of your junk car. When you get multiple quotes from various buyers, you might wonder if you are getting the most cash for your junk car.
Moreover, selling old, junk cars is an uncommon experience for a car owner which is probably the reason for the lack of experience in selling old cars. Selling junk cars is difficult when compared to new cars due to the lack of published prices for junk cars based on the make, model, year, or condition.
If you are trying to sell your junk car for cash and wondering if you are getting the highest price for it, then here’s a list of things to consider:
WAITING TOO LONG CAN REDUCE YOUR JUNK CAR’S VALUE
Numerous people wait for a long while before selling their old non-running car for several reasons. Some might think that getting a few repairs will make the car roadworthy again while you might have a personal attachment to the car and do not want to get rid of it.
Many people hesitate to sell their car thinking that they can sell the junk car for a better price after a few months.
Regardless of the reason, storing an old, non-running car will only reduce its value. The longer you wait before selling your junk car, the lesser its value will become. No matter the reason you’re storing an unused car on your property, it’s important to understand that the longer you wait to send your car to the junkyard, the less it’s going to be worth. That’s because many parts on a car that are the most expensive, deteriorate faster.
When you don’t drive your car often, numerous parts start breaking down gradually. Rust will appear eventually and spread across the entire body of the car. The fluids present in the car will start to settle out and the gasoline inside the tank will absorb the moisture from the air.
Moreover, rodents and other pests begin to infest the car and chew the wires.
At this rate, your old car will lose the little value left in it and junkyards will only offer the scrap value for your car by weight.
Therefore, if your car is still in good shape, you should hurry up and sell it for cash.
NEGOTIATE A HIGH PRICE IF YOUR CAR IS DRIVABLE
A car that runs is always worth more than a car that doesn’t. Junkyards offer a better price for cars that run because there is no need for towing the car and bringing it to the junkyard. Moreover, junk cars that run are useful in several ways: they can be re-sold, they have more useful parts, and others.
For this reason, junkyards offer high prices for running cars. Based on the condition, the junk cars are refurbished and resold or sold as a part of a group of cars at an auction. Therefore, when striking a deal for a running car, you should always ask for a high price and never settle for a lesser one.
TAKE THE BLUE BOOK VALUE AS A REFERENCE
It’s difficult to find the estimate of a car that does not run. Moreover, junkyards don’t pay the actual worth of the car. However, you can still use the Blue Book value to find out a rough estimate of how much money you can expect for your car.
You can find the rough estimate by subtracting the cost of the repairs from the Blue Book value.
REMOVE THE USEFUL COMPONENTS AND RESELL THEM WHEN SELLING YOUR CAR TO A SALVAGE YARD
You should keep in mind that the scrap metal price for a junk car is based entirely on the metal and does not take into account the car’s valuable components. If your junk car still has a few re-usable parts such as a starter motor, alternator, GPS, new tires, or other components that are still useful and can be resold then you should remove them. You can sell these parts online and make some extra cash. Salvage yards do not offer cash for these parts and it is profitable if you remove these parts and sell them yourself.
USING YOUR CAR’S WEIGHT SHOULD BE A LAST RESORT
When you no longer have any options left to get the most cash for your junk car, then you can sell the car for its scrap metal. The majority of the car’s weight comprises steel. You can easily find an estimate for the value of scrap metal at your local recycling yards. Usually, scrap metal prices range from $100 to $150 per ton. Therefore, your car will be worth around $250-$300 to a scrapyard. If a scrapyard offers you a lower amount then you should try to get multiple quotes and then decide whether you want to sell your car as scrap metal.
DON’T ACCEPT A QUOTE WITH TERMS AND CONDITIONS
Getting multiple quotes from various buyers is a smart way to get the most cash for junk cars. However, certain buyers provide quotes with tricky terms and conditions. The most common tactic that junk car buyers use is the Bait and Switch. Some junkyards offer a price quote based on the details of the car that you provide to them. But when they inspect the car before buying, they will reduce the price. You won’t have many options when the buyer is already at your place and is preparing to tow the car.
To avoid this, you should provide a detailed and accurate description of your car including the make, model, age, damage, running condition, missing parts, and so on. You can even send a few pictures of your car if required, before selling it. Then you can demand a firm price and ensure that they stick to it even when they come to inspect the car.
If you are looking for an easy way to get the most cash for your junk car then give us a call +1 708 663 1010 or fill out our simple form here, and we will be happy to assist you!